Harsco (NYSE:HSC) Downgraded by Zacks Investment Research to “Sell”
According to Zacks, “Harsco Corporation is a services and engineered products company. The principal lines of business are: mill services that are provided to steel and non-ferrous metal producers; gas control and containment products; scaffolding services; railway maintenance of way services and equipment; and several other lines of business including, process equipment, industrial grating and bridge decking, industrial pipe fittings, slag abrasives and roofing granules. “
Several other analysts have also recently commented on HSC. ValuEngine upgraded shares of Harsco from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Lake Street Capital upped their target price on shares of Harsco from $33.00 to $36.00 and gave the company a buy rating in a research report on Friday, July 26th. Finally, TheStreet upgraded shares of Harsco from a c+ rating to a b rating in a research report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $30.33.
Harsco (NYSE:HSC) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). Harsco had a return on equity of 22.29% and a net margin of 30.79%. The company had revenue of $423.15 million during the quarter, compared to the consensus estimate of $443.00 million. During the same quarter last year, the firm earned $0.40 EPS. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. Equities analysts expect that Harsco will post 1.41 EPS for the current year.
In other Harsco news, CEO F Nicholas Grasberger III bought 25,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was bought at an average price of $16.73 per share, for a total transaction of $418,250.00. Following the transaction, the chief executive officer now owns 500,048 shares of the company’s stock, valued at approximately $8,365,803.04. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Peter Francis Minan bought 1,350 shares of the company’s stock in a transaction on Friday, August 16th. The shares were acquired at an average price of $18.55 per share, with a total value of $25,042.50. The disclosure for this purchase can be found here. Insiders have acquired a total of 28,350 shares of company stock valued at $481,273 in the last quarter. Corporate insiders own 1.64% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in HSC. River Road Asset Management LLC increased its position in shares of Harsco by 1,476.3% in the 3rd quarter. River Road Asset Management LLC now owns 2,781,327 shares of the industrial products company’s stock valued at $52,734,000 after buying an additional 2,604,885 shares in the last quarter. SG Capital Management LLC increased its position in shares of Harsco by 2,289.6% in the 3rd quarter. SG Capital Management LLC now owns 2,325,481 shares of the industrial products company’s stock valued at $44,091,000 after buying an additional 2,228,166 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Harsco in the 2nd quarter valued at $46,134,000. Russell Investments Group Ltd. bought a new stake in shares of Harsco in the 3rd quarter valued at $11,156,000. Finally, Polar Asset Management Partners Inc. bought a new stake in shares of Harsco in the 2nd quarter valued at $15,668,000. Institutional investors and hedge funds own 85.68% of the company’s stock.
Harsco Corporation provides industrial services and engineered products worldwide. The company operates in three segments: Harsco Metals & Minerals, Harsco Industrial, and Harsco Rail. The Harsco Metals & Minerals segment provides on-site services of material logistics, product quality improvement, and resource recovery for iron, steel, and metals manufacturing; and value added environmental solutions for industrial co-products, as well as produces industrial abrasives and roofing granules.
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